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What is Jazz Air Income Fund mean?
Chorus Aviation is a Canadian holding company which owns regional airlines Jazz Aviation LP and Voyageur Airways as well as lessor Chorus Aviation Capital.
It was founded in 2006 as Jazz Air Income Fund, when then parent company ACE Aviation Holdings divested part of its interests in their regional airline business in an IPO. In 2008, ACE Aviation Holdings sold its remaining participation in the company. In 2011, it became a public corporation and changed its name to Chorus aviation, due to a change in Canadian tax laws which removed tax advantages for income funds, such changes prompting other income funds to restructure similarly.
In February 2011, Chorus reported that revenues had improved and that it had invested in the Uruguayan airline Pluna. After excessive losses, Pluna was shut down by the Uruguayan government on 5 July 2012, and Pluna's entire fleet was auctioned off on 1 October 2012.
Chorus aviation also acquired air charter company Voyageur Airways in 2015. Voyageur Airways provides chartered aircraft to the United Nations in support of various programmes in Africa.
On January 4, 2017, Chorus Aviation launched Chorus Aviation Capital (CAC) with the objective of developing Chorus’ aircraft leasing activity into a global business with a diverse customer base and fleet of regional jet and turbo-prop aircraft in the 70 to 135-seat range. Chorus Aviation Capital builds diversified portfolios of regional aircraft manufactured by ATR, Bombardier and Embraer that will be leased to regional aircraft operators around the world.
On February 8, 2019, Chorus Aviation agreed to purchase nine CRJ900 regional jets from Bombardier in a deal valued at US$437 million. The aircraft will be operated by Chorus subsidiary, Jazz Aviation, with delivery expected in 2020.
reference| Full Form | Category |
|---|---|
| J C C Holding Company | Business |
| Jazz Air Income Fund | Business |
| John Augustine Zahm | Community |
| Jugend Alternativ Zentrum | General |
| Journalists Association of Zanzibar | General |
| Judoclub Atus Zeltweg | Sports |
Posted on 16 Sep 2024, this text provides information on Miscellaneous in Business related to Business. Please note that while accuracy is prioritized, the data presented might not be entirely correct or up-to-date. This information is offered for general knowledge and informational purposes only, and should not be considered as a substitute for professional advice.
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